Arrowstreet Capital Limited Partnership Has $1.89 Million Holdings in Reynolds Consumer Products Inc. (NASDAQ:REYN)

Arrowstreet Capital Limited Partnership reduced its stake in shares of Reynolds Consumer Products Inc. (NASDAQ:REYN) by 59.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,050 shares of the company’s stock after selling 101,056 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Reynolds Consumer Products were worth $1,891,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of REYN. Envestnet Portfolio Solutions Inc. grew its stake in Reynolds Consumer Products by 4.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,432 shares of the company’s stock valued at $363,000 after buying an additional 566 shares during the last quarter. Barclays PLC increased its stake in Reynolds Consumer Products by 173.9% in the third quarter. Barclays PLC now owns 63,121 shares of the company’s stock valued at $1,963,000 after acquiring an additional 40,075 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Reynolds Consumer Products in the 4th quarter valued at approximately $424,000. Charles Schwab Investment Management Inc. grew its position in Reynolds Consumer Products by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 591,906 shares of the company’s stock valued at $15,976,000 after acquiring an additional 19,044 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Reynolds Consumer Products by 1.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,107,822 shares of the company’s stock worth $351,564,000 after purchasing an additional 182,353 shares in the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Reynolds Consumer Products Stock Up 0.1 %

NASDAQ REYN opened at $23.28 on Friday. The business has a fifty day moving average price of $24.07 and a two-hundred day moving average price of $26.71. The stock has a market capitalization of $4.90 billion, a PE ratio of 13.86 and a beta of 0.64. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.04 and a quick ratio of 0.99. Reynolds Consumer Products Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $32.65.

Reynolds Consumer Products (NASDAQ:REYN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Reynolds Consumer Products had a return on equity of 17.14% and a net margin of 9.56%. Equities analysts expect that Reynolds Consumer Products Inc. will post 1.66 earnings per share for the current fiscal year.

Reynolds Consumer Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, February 14th. This represents a $0.92 annualized dividend and a yield of 3.95%. Reynolds Consumer Products’s dividend payout ratio is currently 54.76%.

Wall Street Analyst Weigh In

REYN has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Reynolds Consumer Products from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their target price on shares of Reynolds Consumer Products from $31.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday. Barclays lowered their price target on Reynolds Consumer Products from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Canaccord Genuity Group lowered their price objective on shares of Reynolds Consumer Products from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Finally, UBS Group dropped their target price on shares of Reynolds Consumer Products from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.88.

Insider Transactions at Reynolds Consumer Products

In other Reynolds Consumer Products news, Director Rolf Stangl purchased 6,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $24.89 per share, for a total transaction of $149,340.00. Following the purchase, the director now owns 16,889 shares of the company’s stock, valued at $420,367.21. This trade represents a 55.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Reynolds Consumer Products Profile

Reynolds Consumer Products Inc produces and sells products in cooking, waste and storage, and tableware product categories in the United States and internationally. It operates through four segments: Reynolds Cooking & Baking, Hefty Waste & Storage, Hefty Tableware, and Presto Products. The Reynolds Cooking & Baking segment produces aluminum foil, disposable aluminum pans, parchment paper, freezer paper, wax paper, butcher paper, plastic wrap, baking cups, oven bags, and slow cooker liners under the Reynolds Wrap, Reynolds KITCHENS, and EZ Foil brands in the United States, as well as under the ALCAN brand in Canada and under the Diamond brand internationally.